XS Supply Company Is developing Its annual financlal statements at December $31.$ The statements are complete except for the

statement of cash flows. The completed comparative balance sheets and income statement are summarized:

Balance Sheet at December $31$

Cash

Accounts Receivable

Inventory

Equipment

Accumulated Depreciation$-$Equipment.

Total Assets

Accounts Payable

Salaries and Wages Payable

Notes Payable $($long$-$tern$)$

Comnon Stock

Retained Earnings

Total Liabilities and stockholders' Equity

Income Statement

Service Revenue

cost of Goods Sold

Other Expenses

Net Incorre

Additional Data:

a$.$ Bought equipment for cash, $$20,000.$

b$.$ Pald $$5,800$ on the long$-$term notes payable.

c$.$ Issued new shares of stock for $$15,000$ cash.

d$.$ No dividends were declared or pald.

e$.$ Other expenses included depreclation, $$4,800$; salarles and wages, $$19,800$; taxes, $$5,800$; utilities, $$6,600.$

$f$ Accounts Payable Includes only Inventory purchases made on credit. Because there are no liability accounts relating to taxes or

other expenses, assume that these expenses were fully pald in cash.

Required:

Prepare the statement of cash flows for the current year ended December $31$ using the indirect method. $($Amounts to be deducted

should be indicated with a minus sign.$)$

Answer is not complete.